COBS 10.2.1

A CSD must comply with, and is subject to, the general requirements applicable to Authorised Persons in COBS, GEN and elsewhere in the Rules, except for the following:

(a) Rule 14.2.14 (Segregation and portability);
(b) Rules 14.2.15(b)(i)(B), (c) and (d) (Statutory Trust);
(c) Rules 14.4.3 (b), (e) and (h)-(n) (Pooling and Distribution);
(d) Rule 14.4.6 (Failure of third parties: pooling and distribution); and
(e) Rule 14.4.7 (Client Money received after the Failure of a third party).